1106 W Harper St

Poplar Bluff, MO 63901

$66,500B+

3 bd · 1.0 ba · 1,258 sqft · Built 1922 · Other · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,231/mo
• Mortgage (P&I): −$349
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $562/mo
• Annual: $6,750/yr
• Cap rate: 16.44%
• Cash-on-cash: 36.25%
• DSCR: 2.61
• 1% rule: 1.85%
• Cash to close: $18,620

Investor read

• This is a 3-bed/1.0-bath other listed at $66k.
• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• It's been on market 135 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $460 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#143 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Poplar Bluff R-I (town): math 38% / reading 47% proficiency, ranked #127 of 324 in MO (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 277 active listings in the ZIP; 63 units permitted in Butler County in 2024 (48 in 5+ unit buildings).
• Butler County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.4% vs local median 4.4% in Poplar Bluff — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.